BitMine Immersion Technologies has significantly expanded its Ethereum holdings, purchasing 32,977 ETH in the past week alone. This acquisition brings its total Ethereum treasury to 4,143,502 ETH, valued at approximately $13.2 billion. The company now controls an estimated 3.43% of Ethereum's circulating supply, a position nearly five times larger than its closest competitor and making it the largest single ETH holder globally.
The firm's total assets have reached $14.2 billion. Beyond its massive ETH position, the portfolio includes 192 Bitcoin (BTC), a $25 million stake in "moonshot" holdings represented by Eightco Holdings, and $915 million in cash. BitMine has articulated an ambitious goal to acquire 5% of the total ETH supply, which would equate to roughly 6 million tokens.
A major component of BitMine's strategy is staking. The company currently has 659,219 ETH staked, worth about $2.1 billion. This represents a substantial weekly increase of 250,592 ETH in staked assets. To support and expand this operation, BitMine is preparing to launch its U.S.-based validator network, MAVAN (Made in America Validator Network), in early 2026. The company projects that at scale, its staking operations could generate annual revenues exceeding $370 million.
Thomas "Tom" Lee, Chairman of BitMine and of Fundstrat, commented on the firm's bullish outlook. "We are excited about the prospects for Ethereum in 2026 given the multiple tailwinds of US government support for crypto," he said. Lee further cited growing institutional adoption, enterprise tokenization efforts, and increased demand for digital authentication as key drivers for Ethereum's potential growth, adding that last year's rally in traditional commodities could also support higher crypto prices.
The news comes amid a period of strength for Ethereum, with ETH rising 7.8% over the past week, buoyed by broader market recovery and favorable macro factors including increased regulatory support. BitMine's growing profile has also translated into heavy trading activity for its stock, with average daily dollar volume nearing $1 billion in early January. The company will seek shareholder approval for an increase in authorized shares at its annual meeting on January 15, a move Lee stated would provide flexibility for future capital raises, acquisitions, and share splits while continuing to build ETH holdings per share.
